Next boss gets £1m bonus

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Next boss Lord Wolfson was handed a £1m bonus for last year, taking his total remuneration to around £1.75m. Next reported a nine per cent rise in pre-tax profits to £551m in the year ending January. Cost savings boosted the figures as the chain suffered a four per cent fall in same-store retail sales. Next forecast profit for the new financial year to be between £520m and £570m, in line with current market expectations. The retailer will also pay its group product director Christos Angelides £1m, including a £500,000 bonus.